MI6: 2026 Annual Report to Shareholders
Original announcement by asx on
- Company
- Minerals 260 Limited
- Ticker
- MI6
- Exchange
- ASX
- Region
- Western Australia
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update, Capital raise
- Extracted
- 2026-09-30 04:29:18 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Minerals 260 Limited has reported a transformational year for its Bullabulling Gold Project in Western Australia, highlighted by a substantial update to its Mineral Resource Estimate (MRE) and the declaration of a maiden Ore Reserve. The July 2026 MRE now stands at 190 Mt at 1.0 g/t Au for 6.2 Moz of gold, representing a 170% increase in contained ounces since the project's acquisition in April 2025. A Pre-Feasibility Study (PFS) outlined robust economics for a 19-year operation, including a post-tax NPV₅ of A$2.3 billion and a 43% IRR, with the Definitive Feasibility Study (DFS) now underway.
Reasoning: Minerals 260 has reported a transformational year with substantial growth in its gold resource, declaration of a maiden Ore Reserve with compelling economics, and successful funding, marking significant progress towards project development.
Positive factors
- Significant increase in contained gold ounces (170% since acquisition, 38% since Dec 2025 MRE)
- Maiden Ore Reserve declared, underpinning a 19-year mine life
- Strong Pre-Feasibility Study (PFS) economics with a post-tax NPV₅ of A$2.3 billion and 43% IRR
- Successful capital raises and strategic funding packages from Franco-Nevada Corporation
- Definitive Feasibility Study (DFS) underway targeting Final Investment Decision (FID) in Q1 CY27
- Inclusion in the S&P/ASX 200 Index
Negative factors
- PFS and maiden Ore Reserve are based on the December 2025 MRE, not the larger July 2026 MRE, suggesting potential for further optimization
- July 2026 MRE average grade (1.0 g/t Au) is lower than the December 2024 MRE (1.2 g/t Au)
- July 2026 MRE cut-off grade (0.35 g/t Au) is lower than the December 2024 MRE (0.50 g/t Au), which may contribute to tonnage growth
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 39
Classification and evidence
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: The Mineral Resource Estimates and Ore Reserve Estimates are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 Edition).
Evidence · text
“Minerals 260 reports its Mineral Resource Estimates and Ore Reserve Estimates in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 Edition)”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: The Competent Persons, including Luke McFadyen, Mark Muller, David Richards, and Adam Smits, have reviewed and consented to the inclusion of the Mineral Resource and Ore Reserve Estimates.
Evidence · text
“The Company has obtained the prior written consent of the relevant Competent Persons to the inclusion of the Mineral Resource and Ore Reserve Estimates in the form and context in which they appear in this Annual Report.”
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: The July 2026 Mineral Resource Estimate shows a 170% increase in contained ounces compared to the December 2024 estimate.
Evidence · table
“170%”
Context: 2,300
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: The July 2026 Mineral Resource Estimate shows a 217% increase in total tonnage compared to the December 2024 estimate.
Evidence · table
“217%”
Context: 60
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: The updated estimate reflects successful conversion of Inferred Resources to Indicated classification, with 4.4Moz classified as Indicated.
Evidence · text
“The updated estimate reflects both the successful conversion of Inferred Resources to Indicated classification and the extension of mineralisation beyond the previous resource boundaries.”
Maiden Resourceneutral
First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.
Why it applies: The document reports the company's maiden Ore Reserve of 90Mt at 0.86g/t Au for 2.5Moz.
Evidence · text
“A key outcome of the PFS was the Company’s maiden Ore Reserve of 90Mt at 0.86g/t Au for 2.5Moz.”
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: The document announces an updated Mineral Resource Estimate in July 2026.
Evidence · text
“In July 2026, following a further 78,000 metres of drilling, the Company announced another updated Mineral Resource Estimate of 190Mt at 1.0g/t Au for 6.2Moz”
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: The resource estimate and maiden Ore Reserve were prepared in conjunction with the completion of a Pre-Feasibility Study.
Evidence · text
“The July 2026 Mineral Resource Estimate was released alongside the outcomes of the Pre-Feasibility Study (‘PFS’) and Bullabulling’s maiden Ore Reserve”
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: The updated July 2026 Mineral Resource Estimate will be incorporated into the Definitive Feasibility Study ('DFS').
Evidence · text
“The updated July 2026 Mineral Resource Estimate will now be used as the basis of the ongoing DFS and future Ore Reserve.”
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: The July 2026 total resource grade of 1.0 g/t Au is lower than the December 2024 total resource grade of 1.2 g/t Au.
Evidence · table
“(17%)”
Context: 1.2
Cut-off Lowerednegative
Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation.
Why it applies: The July 2026 Mineral Resource Estimate is reported above a cut-off grade of 0.35 g/t Au, which is lower than the December 2024 estimate's 0.50 g/t Au cut-off.
Evidence · text
“The July 2026 Mineral Resource Estimate is reported above a cut-off grade of 0.35 g/t Au within an A$5,250 pit shell, while the December 2024 Mineral Resource Estimate was reported above a cut-off grade of 0.50 g/t Au within an A$3,000 pit shell.”
Extracted facts
Stored fact records: 39. Some facts used in scoring do not have a stored record.
Resource Estimates (39)
indicatedBullabulling Gold Project · goldTonnes: 17000000Grade: 0.93Grade Unit: g/tContained Metal: 500Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:eb4008dd40c2766d9742
- Deposit or zone
- Dicksons
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 17000000
- Grade
- 0.93
- Grade Unit
- g/t
- Contained Metal
- 500
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This indicated resource for Dicksons contributes positively to the overall resource base with good confidence.
Positive factors
- Indicated resource category provides good geological confidence
- Contributes to overall resource growth
Evidence · table
“0.93”
Context: 17
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBullabulling Gold Project · goldTonnes: 5500000Grade: 0.94Grade Unit: g/tContained Metal: 170Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:3c99e1eaabc14652641e
- Deposit or zone
- Dicksons
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 5500000
- Grade
- 0.94
- Grade Unit
- g/t
- Contained Metal
- 170
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred resource for Dicksons adds to the total resource but with lower confidence, requiring further drilling for upgrade.
Positive factors
- Adds to the overall resource base
Negative factors
- Inferred resource category has lower geological confidence
Evidence · table
“0.94”
Context: 5.5
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 62000000Grade: 0.94Grade Unit: g/tContained Metal: 1900Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:8d4573c90d74b76f2dba
- Deposit or zone
- Phoenix
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 62000000
- Grade
- 0.94
- Grade Unit
- g/t
- Contained Metal
- 1900
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Phoenix deposit contributes a substantial indicated resource, significantly boosting the project's overall confidence and scale.
Positive factors
- Significant indicated resource tonnage and contained metal
- Provides strong geological confidence for mine planning
Evidence · table
“0.94”
Context: 62
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBullabulling Gold Project · goldTonnes: 12000000Grade: 1Grade Unit: g/tContained Metal: 390Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:1af51415c9d7edc237e3
- Deposit or zone
- Phoenix
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 12000000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 390
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inferred resource at Phoenix adds to the project's scale, but its lower confidence category indicates a need for further definition.
Positive factors
- Adds to the overall resource base with good grade
Negative factors
- Inferred resource category has lower geological confidence
Evidence · table
“1.0”
Context: 12
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 55000000Grade: 1Grade Unit: g/tContained Metal: 1800Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:29b7f81ac288c99d06a0
- Deposit or zone
- Bacchus
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 55000000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 1800
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Bacchus deposit contributes a substantial indicated resource, significantly boosting the project's overall confidence and scale.
Positive factors
- Significant indicated resource tonnage and contained metal
- Provides strong geological confidence for mine planning
Evidence · table
“1.0”
Context: 55
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBullabulling Gold Project · goldTonnes: 17000000Grade: 1.1Grade Unit: g/tContained Metal: 580Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:2d1370f11252aa53a2f5
- Deposit or zone
- Bacchus
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 17000000
- Grade
- 1.1
- Grade Unit
- g/t
- Contained Metal
- 580
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inferred resource at Bacchus adds to the project's scale, but its lower confidence category indicates a need for further definition.
Positive factors
- Adds to the overall resource base with good grade
Negative factors
- Inferred resource category has lower geological confidence
Evidence · table
“1.1”
Context: 17
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 4800000Grade: 1.1Grade Unit: g/tContained Metal: 170Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:e3f7e4021226147997b0
- Deposit or zone
- Kraken
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 4800000
- Grade
- 1.1
- Grade Unit
- g/t
- Contained Metal
- 170
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This indicated resource for Kraken contributes positively to the overall resource base with good confidence.
Positive factors
- Indicated resource category provides good geological confidence
- Contributes to overall resource growth
Evidence · table
“1.1”
Context: 4.8
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBullabulling Gold Project · goldTonnes: 11000000Grade: 1.1Grade Unit: g/tContained Metal: 370Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:ee8f756717f72818e826
- Deposit or zone
- Kraken
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 11000000
- Grade
- 1.1
- Grade Unit
- g/t
- Contained Metal
- 370
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inferred resource at Kraken adds to the project's scale, but its lower confidence category indicates a need for further definition.
Positive factors
- Adds to the overall resource base with good grade
Negative factors
- Inferred resource category has lower geological confidence
Evidence · table
“1.1”
Context: 11
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 2300000Grade: 1Grade Unit: g/tContained Metal: 77Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:f256eaa075d346c05bbb
- Deposit or zone
- Gibraltar
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 2300000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 77
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This indicated resource for Gibraltar contributes positively to the overall resource base with good confidence.
Positive factors
- Indicated resource category provides good geological confidence
- Contributes to overall resource growth
Evidence · table
“1.0”
Context: 2.3
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBullabulling Gold Project · goldTonnes: 6200000Grade: 1.1Grade Unit: g/tContained Metal: 220Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:498ff0797601c8bc26e3
- Deposit or zone
- Gibraltar
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 6200000
- Grade
- 1.1
- Grade Unit
- g/t
- Contained Metal
- 220
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inferred resource at Gibraltar adds to the project's scale, but its lower confidence category indicates a need for further definition.
Positive factors
- Adds to the overall resource base with good grade
Negative factors
- Inferred resource category has lower geological confidence
Evidence · table
“1.1”
Context: 6.2
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 140000000Grade: 0.98Grade Unit: g/tContained Metal: 4400Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:07e306e4855717c5bbef
- Deposit or zone
- Total
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 140000000
- Grade
- 0.98
- Grade Unit
- g/t
- Contained Metal
- 4400
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total indicated resource represents a substantial and high-confidence gold inventory for the project.
Positive factors
- Large indicated resource base provides strong confidence for project development
- Significant contained metal ounces
Evidence · table
“0.98”
Context: 140
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBullabulling Gold Project · goldTonnes: 51000000Grade: 1Grade Unit: g/tContained Metal: 1700Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:6032cd282eb47efbd4af
- Deposit or zone
- Total
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 51000000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 1700
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total inferred resource adds substantial ounces but requires further work to upgrade confidence for development.
Positive factors
- Adds significant contained metal to the overall resource
Negative factors
- Inferred resource category has lower geological confidence
Evidence · table
“1.0”
Context: 51
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 190000000Grade: 1Grade Unit: g/tContained Metal: 6200Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:4cfbdbf9f17187463f89
- Deposit or zone
- Total
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 190000000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 6200
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The updated total resource of 6.2 Moz gold is a world-class scale, significantly enhancing the project's value and development potential.
Positive factors
- Exceptional total contained gold ounces (6.2 Moz)
- Significant increase in total resource (170% since acquisition)
- Strong average grade for a large-scale open pit project
Evidence · table
“1.0”
Context: 190
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 3600000Grade: 0.9Grade Unit: g/tContained Metal: 110Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:570c9e6f5d6a285f4847
- Mining method
- open_pit
- Material type
- oxide
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 3600000
- Grade
- 0.9
- Grade Unit
- g/t
- Contained Metal
- 110
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This indicated oxide resource provides a good start to the mine plan with potentially favorable processing characteristics.
Positive factors
- Indicated resource category provides good geological confidence
- Oxide material typically has simpler metallurgy
Evidence · table
“0.90”
Context: 3.6
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBullabulling Gold Project · goldTonnes: 1300000Grade: 0.9Grade Unit: g/tContained Metal: 38Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:c337f3c5374c23853b7d
- Mining method
- open_pit
- Material type
- oxide
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 1300000
- Grade
- 0.9
- Grade Unit
- g/t
- Contained Metal
- 38
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred oxide resource adds to the total but requires further definition for development.
Positive factors
- Adds to the overall resource base
Negative factors
- Inferred resource category has lower geological confidence
Evidence · table
“0.90”
Context: 1.3
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 28000000Grade: 0.94Grade Unit: g/tContained Metal: 860Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:0c520b2ff6cb1e95a4b4
- Mining method
- open_pit
- Material type
- transitional
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 28000000
- Grade
- 0.94
- Grade Unit
- g/t
- Contained Metal
- 860
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This indicated transitional resource provides good confidence and contributes to the overall resource base.
Positive factors
- Indicated resource category provides good geological confidence
- Contributes to overall resource growth
Evidence · table
“0.94”
Context: 28
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBullabulling Gold Project · goldTonnes: 4600000Grade: 0.95Grade Unit: g/tContained Metal: 140Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:c85080fb6e4d8f57454e
- Mining method
- open_pit
- Material type
- transitional
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 4600000
- Grade
- 0.95
- Grade Unit
- g/t
- Contained Metal
- 140
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This inferred transitional resource adds to the total but requires further definition for development.
Positive factors
- Adds to the overall resource base
Negative factors
- Inferred resource category has lower geological confidence
Evidence · table
“0.95”
Context: 4.6
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 110000000Grade: 0.99Grade Unit: g/tContained Metal: 3500Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:2423ecb16dd2cff87707
- Mining method
- open_pit
- Material type
- fresh
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 110000000
- Grade
- 0.99
- Grade Unit
- g/t
- Contained Metal
- 3500
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The indicated fresh resource is a major component of the project, providing high confidence for long-term operations.
Positive factors
- Largest component of the indicated resource, providing strong confidence
- Significant contained metal ounces in fresh material
Evidence · table
“0.99”
Context: 110
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBullabulling Gold Project · goldTonnes: 45000000Grade: 1.1Grade Unit: g/tContained Metal: 1500Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:3c77816aa5f7fae9c661
- Mining method
- open_pit
- Material type
- fresh
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 45000000
- Grade
- 1.1
- Grade Unit
- g/t
- Contained Metal
- 1500
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inferred fresh resource adds substantial ounces but requires further work to upgrade confidence for development.
Positive factors
- Adds significant contained metal to the overall resource
Negative factors
- Inferred resource category has lower geological confidence
Evidence · table
“1.1”
Context: 45
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 140000000Grade: 0.98Grade Unit: g/tContained Metal: 4400Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:2f82b3be0e2be74eb94e
- Mining method
- open_pit
- Material type
- Total
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 140000000
- Grade
- 0.98
- Grade Unit
- g/t
- Contained Metal
- 4400
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total indicated resource represents a substantial and high-confidence gold inventory for the project.
Positive factors
- Large indicated resource base provides strong confidence for project development
- Significant contained metal ounces
Evidence · table
“0.98”
Context: 140
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBullabulling Gold Project · goldTonnes: 51000000Grade: 1Grade Unit: g/tContained Metal: 1700Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:0f5aec16e515cfe9f24e
- Mining method
- open_pit
- Material type
- Total
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 51000000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 1700
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total inferred resource adds substantial ounces but requires further work to upgrade confidence for development.
Positive factors
- Adds significant contained metal to the overall resource
Negative factors
- Inferred resource category has lower geological confidence
Evidence · table
“1.0”
Context: 51
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 190000000Grade: 1Grade Unit: g/tContained Metal: 6200Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:6c43b60985474f38ddea
- Mining method
- open_pit
- Material type
- Total
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 190000000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 6200
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The updated total resource of 6.2 Moz gold is a world-class scale, significantly enhancing the project's value and development potential.
Positive factors
- Exceptional total contained gold ounces (6.2 Moz)
- Significant increase in total resource (170% since acquisition)
- Strong average grade for a large-scale open pit project
Evidence · table
“1.0”
Context: 190
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 140000000Grade: 0.98Grade Unit: g/tContained Metal: 4400Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:cb4201743dc122ebc763
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 140000000
- Grade
- 0.98
- Grade Unit
- g/t
- Contained Metal
- 4400
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
- Prior Tonnes
- 39000000
- Prior Grade
- 1.1
- Prior Contained Metal
- 1400
- Prior Cutoff Grade
- 0.5
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The indicated resource shows significant growth in tonnage and contained metal, but with a lower grade and cut-off, indicating some dilutive growth.
Positive factors
- Significant increase in indicated tonnage (259%)
- Substantial growth in contained metal (214%)
Negative factors
- Grade decreased by 11% compared to prior estimate
- Cut-off grade was lowered from 0.50 g/t Au to 0.35 g/t Au
Evidence · table
“0.98”
Context: 140
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: 140000000 against 39000000 previously
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 0.98 against 1.1 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 4400 against 1400 previously
Cut-off Lowerednegative
Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation.
Why it applies: 0.35 against 0.5 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBullabulling Gold Project · goldTonnes: 51000000Grade: 1Grade Unit: g/tContained Metal: 1700Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:2686fc6810dbac53209c
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- inferred
- Tonnes
- 51000000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 1700
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
- Prior Tonnes
- 21000000
- Prior Grade
- 1.3
- Prior Contained Metal
- 890
- Prior Cutoff Grade
- 0.5
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The inferred resource shows strong growth in tonnage and contained metal, but with a lower grade and cut-off, indicating some dilutive growth.
Positive factors
- Significant increase in inferred tonnage (143%)
- Substantial growth in contained metal (91%)
Negative factors
- Grade decreased by 23% compared to prior estimate
- Cut-off grade was lowered from 0.50 g/t Au to 0.35 g/t Au
Evidence · table
“1.0”
Context: 51
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: 51000000 against 21000000 previously
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 1 against 1.3 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 1700 against 890 previously
Cut-off Lowerednegative
Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation.
Why it applies: 0.35 against 0.5 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 190000000Grade: 1Grade Unit: g/tContained Metal: 6200Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:4e6b6295472357a2f388
- Mining method
- open_pit
- Ownership percent
- 100 %
Resource Data
- Category
- indicated
- Tonnes
- 190000000
- Grade
- 1
- Grade Unit
- g/t
- Contained Metal
- 6200
- Contained Unit
- koz
- Cutoff Grade
- 0.35
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2026-07-08
- Prior Tonnes
- 60000000
- Prior Grade
- 1.2
- Prior Contained Metal
- 2300
- Prior Cutoff Grade
- 0.5
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The total resource shows exceptional growth in both tonnage and contained metal, despite a lower average grade and cut-off, indicating a significantly larger deposit.
Positive factors
- Exceptional increase in total tonnage (217%)
- Exceptional increase in total contained metal (170%)
Negative factors
- Overall grade decreased by 17% compared to prior estimate
- Cut-off grade was lowered from 0.50 g/t Au to 0.35 g/t Au
Evidence · table
“1.0”
Context: 190
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: 190000000 against 60000000 previously
Grade Declinenegative
Average grade dropped >5% vs prior estimate — deposit economics worsening. May indicate high-grading in early drilling.
Why it applies: 1 against 1.2 previously
Contained Metal Growthpositive
True scale improvement — contained metal ounces/tonnes increased vs prior, accounting for both tonnage and grade changes.
Why it applies: 6200 against 2300 previously
Cut-off Lowerednegative
Cut-off grade significantly reduced vs prior estimate — tonnage growth may be artificial inflation.
Why it applies: 0.35 against 0.5 previously
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
indicatedBullabulling Gold Project · goldTonnes: 39000000Grade: 1.1Grade Unit: g/tContained Metal: 1400Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:a6a9d78cd3da899e5221
Resource Data
- Category
- indicated
- Tonnes
- 39000000
- Grade
- 1.1
- Grade Unit
- g/t
- Contained Metal
- 1400
- Contained Unit
- koz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2024-12-31
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2024-12-31T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical indicated resource, now superseded by the larger July 2026 estimate.
Negative factors
- Historical estimate, superseded by current MRE
Evidence · table
“1.1”
Context: 39
Tags used in scoring
Indicated Resourcepositive
Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves.
Why it applies: category is "indicated"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBullabulling Gold Project · goldTonnes: 21000000Grade: 1.3Grade Unit: g/tContained Metal: 890Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:9b88e00cd2d32bcfb4ff
Resource Data
- Category
- inferred
- Tonnes
- 21000000
- Grade
- 1.3
- Grade Unit
- g/t
- Contained Metal
- 890
- Contained Unit
- koz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2024-12-31
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2024-12-31T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical inferred resource, now superseded by the larger July 2026 estimate.
Negative factors
- Historical estimate, superseded by current MRE
- Inferred resource category has lower geological confidence
Evidence · table
“1.3”
Context: 21
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
inferredBullabulling Gold Project · goldTonnes: 60000000Grade: 1.2Grade Unit: g/tContained Metal: 2300Contained Unit: kozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- resource
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Mark Muller, David Richards
- Resource group id
- resource:42b59785869acb94e996
Resource Data
- Category
- inferred
- Tonnes
- 60000000
- Grade
- 1.2
- Grade Unit
- g/t
- Contained Metal
- 2300
- Contained Unit
- koz
- Cutoff Grade
- 0.5
- Cutoff Unit
- g/t Au
Prior Estimate
- Resource Date
- 2024-12-31
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
- Historical Source Date
- 2024-12-31T00:00:00.000Z
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This is a historical total resource, now superseded by the significantly larger July 2026 estimate.
Negative factors
- Historical estimate, superseded by current MRE
Evidence · table
“1.2”
Context: 60
Tags used in scoring
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: category is "inferred"
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: cutoff_grade is stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBullabulling Gold Project · goldTonnes: 12000000Grade: 0.87Grade Unit: g/tContained Metal: 330Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Adam Smits
- Resource group id
- resource:cb2b49a2f9ee78c656c4
- Deposit or zone
- Dicksons
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- attributable
Resource Data
- Category
- probable
- Tonnes
- 12000000
- Grade
- 0.87
- Grade Unit
- g/t
- Contained Metal
- 330
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This probable reserve for Dicksons is a positive step, demonstrating economic viability for a portion of the resource.
Positive factors
- Probable reserve category provides high confidence for economic extraction
- Contributes to the maiden Ore Reserve
Evidence · table
“0.87”
Context: 12
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBullabulling Gold Project · goldTonnes: 50000000Grade: 0.84Grade Unit: g/tContained Metal: 1300Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Adam Smits
- Resource group id
- resource:b20c04128c1512eeadaa
- Deposit or zone
- Phoenix
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- attributable
Resource Data
- Category
- probable
- Tonnes
- 50000000
- Grade
- 0.84
- Grade Unit
- g/t
- Contained Metal
- 1300
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Phoenix deposit forms the largest part of the maiden Ore Reserve, significantly de-risking the project with high confidence.
Positive factors
- Largest component of the maiden Ore Reserve, providing strong confidence
- Significant contained metal ounces in the probable category
Evidence · table
“0.84”
Context: 50
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBullabulling Gold Project · goldTonnes: 26000000Grade: 0.89Grade Unit: g/tContained Metal: 750Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Adam Smits
- Resource group id
- resource:690ba76080dc6b5e09d2
- Deposit or zone
- Bacchus
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- attributable
Resource Data
- Category
- probable
- Tonnes
- 26000000
- Grade
- 0.89
- Grade Unit
- g/t
- Contained Metal
- 750
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Bacchus deposit contributes significantly to the maiden Ore Reserve, adding high-confidence ounces to the project.
Positive factors
- Significant contained metal ounces in the probable category
- Contributes substantially to the maiden Ore Reserve
Evidence · table
“0.89”
Context: 26
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBullabulling Gold Project · goldTonnes: 2400000Grade: 1.1Grade Unit: g/tContained Metal: 88Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Adam Smits
- Resource group id
- resource:84535a0df175fdb2ab43
- Deposit or zone
- Kraken
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- attributable
Resource Data
- Category
- probable
- Tonnes
- 2400000
- Grade
- 1.1
- Grade Unit
- g/t
- Contained Metal
- 88
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: This probable reserve for Kraken is a positive step, demonstrating economic viability for a portion of the resource.
Positive factors
- Probable reserve category provides high confidence for economic extraction
- Contributes to the maiden Ore Reserve
Evidence · table
“1.1”
Context: 2.4
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
probableBullabulling Gold Project · goldTonnes: 90000000Grade: 0.86Grade Unit: g/tContained Metal: 2500Contained Unit: kozView all detailsHide details
Identity
- Project
- Bullabulling Gold Project
- Commodity
- gold
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Estimate type
- reserve
- Reporting standards
- jorc
- QP Signed
- Yes
- Qualified person names
- Luke McFadyen, Adam Smits
- Resource group id
- resource:2816ad3c014a3b05086d
- Deposit or zone
- Total
- Mining method
- open_pit
- Ownership percent
- 100 %
- Resource basis
- attributable
Resource Data
- Category
- probable
- Tonnes
- 90000000
- Grade
- 0.86
- Grade Unit
- g/t
- Contained Metal
- 2500
- Contained Unit
- koz
Prior Estimate
- Resource Date
- 2026-07-08
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The maiden Ore Reserve is a major positive, confirming the economic viability of a substantial portion of the Bullabulling project.
Positive factors
- Maiden Ore Reserve of 2.5 Moz gold is a significant de-risking milestone
- Provides a strong foundation for project financing and development
- High confidence in economic viability
Evidence · table
“0.86”
Context: 90
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: qp_signed is true
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Fact 34View all detailsHide details
Identity
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Reporting standards
- jorc
- Mining method
- open_pit
- Ownership percent
- 100 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A substantial equity investment from a major royalty company like Franco-Nevada is a strong positive signal for the project and company.
Positive factors
- Significant equity investment strengthens balance sheet
- Franco-Nevada's involvement provides strong endorsement
Evidence · text
“In February 2026, Franco-Nevada became a major shareholder in Minerals 260 through a A$220 million funding package comprising a $170 million royalty transaction and a $50 million equity investment.”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Fact 35View all detailsHide details
Identity
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Reporting standards
- jorc
- Mining method
- open_pit
- Ownership percent
- 100 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The royalty transaction provides substantial funding without equity dilution, backed by a reputable partner, which is highly positive for project development.
Positive factors
- Provides significant non-dilutive funding for project advancement
- Franco-Nevada's involvement provides strong endorsement
Evidence · text
“In February 2026, Franco-Nevada became a major shareholder in Minerals 260 through a A$220 million funding package comprising a $170 million royalty transaction and a $50 million equity investment.”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Fact 36View all detailsHide details
Identity
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Reporting standards
- jorc
- Mining method
- open_pit
- Ownership percent
- 100 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: A second large royalty transaction further bolsters the company's funding position and reinforces the strategic partnership.
Positive factors
- Provides additional significant non-dilutive funding
- Further strengthens partnership with Franco-Nevada
Evidence · text
“This was followed in September 2026 by an additional $200 million funding package with Franco-Nevada, comprising a further $170 million royalty transaction and a $30 million cornerstone commitment to the Company’s $250 million two-tranche Placement.”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Fact 37View all detailsHide details
Identity
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Reporting standards
- jorc
- Mining method
- open_pit
- Ownership percent
- 100 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: Franco-Nevada's cornerstone commitment to the placement is a strong vote of confidence and helps de-risk the equity raise.
Positive factors
- Cornerstone commitment from a major investor provides confidence for the placement
- Strengthens Franco-Nevada's equity stake
Evidence · text
“This was followed in September 2026 by an additional $200 million funding package with Franco-Nevada, comprising a further $170 million royalty transaction and a $30 million cornerstone commitment to the Company’s $250 million two-tranche Placement.”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Fact 38View all detailsHide details
Identity
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Reporting standards
- jorc
- Mining method
- open_pit
- Ownership percent
- 100 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The successful completion of Tranche 1 of the placement provides substantial funding for the Bullabulling project.
Positive factors
- Significant capital raised to fund project development
- Strengthens the company's financial position
Evidence · text
“Tranche 1 of the Placement, which raised approximately $178.9 million (before costs), has been completed”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
Fact 39View all detailsHide details
Identity
- Region
- australia_wa
- Reported Region
- Western Australia
- Ticker
- MI6
Resource scope
- Reporting standards
- jorc
- Mining method
- open_pit
- Ownership percent
- 100 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-09-30T00:00:00.000Z
Reasoning: The Share Purchase Plan offers existing shareholders participation and aims to secure additional capital for the project.
Positive factors
- Opportunity for existing shareholders to participate in funding
- Provides additional capital for project development
Evidence · text
“announced a Share Purchase Plan targeting up to a further $30 million”
Tags used in scoring
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
JORC Compliantpositive
Resource estimate prepared in compliance with JORC Code (Australia) — high reporting standard.
Why it applies: reporting_standards includes jorc
No Contained Metalnegative
Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting.
Why it applies: contained_metal was not reported
Resource Updateneutral
Revised estimate for an existing resource — compare to prior to assess progress.
Why it applies: the release compares against a previous estimate
PFS-Supportingneutral
Resource estimate prepared to support a Pre-Feasibility Study — requires adequate M&I component.
Why it applies: the release names the study this estimate supports
DFS-Supportingneutral
Resource estimate prepared to support a Definitive Feasibility Study — requires high M&I confidence.
Why it applies: the release names the study this estimate supports
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.